1. Stock price doesn't have to dip much from here to become a reasonable short term trade. Alternatively, play it long term like buckeye. Maybe a little of both.
2. Think of the additional stock price leverage CRY would have had if they had not instituted a dividend policy and had instead used these $$$ for buying back stock. Above $6.50 would be my WAG.
3. Apparently CRY's issues with the FDA have not been resolved yet. Maybe they are making progress on this front, I don't know, but I think they will issue a news release if this gets resolved. No news release means there are still live issues with the FDA compliance folks. The longer this goes on, the more one wonders about it.
4. A person has to wonder whether the PerClot FDA submission is in some way hung up until the warning letter issues are fully resolved. Probably not, but one has to wonder about it anyway. Still PerClot has both potential and risk. To get to significant value, CRY needs to 1) obtain FDA approval; and, prevail in patent litigation.
5. CRY still has an old CEO that keeps promising the moon, always down the road, but who seems to have difficulty delivering. Maybe things are different this time, I don't know.
6. I think SA is a "control freak", who by virtue of his tight control stymies other people's creativity. The nepotism thing with BA is a spin-off of this.
7. IMO we are living is a massive bubble world. Treasury bubble, high yield bond bubble, equity bubble, and more. I don't think that the laws of logic are going to be supended forever. Maybe, but I doubt it.
Overall thought, is probably reasonable valued at $6/share, about where we are now. That is unless SA really makes a mess out of something new, like a big tissue product law suit. Why have HUGE liability risk when the tissue cost centers don't generate any (or very much) operating income? So far BioGlue and HeroGraft are looking good, so everything else is sort of a "wild card" package.